By The energy sector experienced a surge as oil futures made significant gains. The West Texas Intermediate front-month contract saw a 1.5% increase, settling at its highest point since early November. Investors have been carefully considering multiple factors, such as the outlook for interest-rate cuts by the Federal Reserve, tensions in the Middle East, and uncertainty regarding crude demand.
New York State’s Pension Fund Divests from Oil Companies
New York state’s impressive $260 billion pension fund has made the decision to divest some of its investments in oil companies, including Exxon Mobil. Officials believe that these companies have not adequately prepared for the energy transition.
Optimistic Predictions for Shell’s LNG Volumes
RBC Capital Markets has already made optimistic predictions for Shell’s liquefied natural gas (LNG) volumes. The company states that if utilization rates increase for Prelude, Nigeria, and Trinidad, along with the start-up of LNG Canada in late 2024, Shell’s LNG volumes could rise by 8% this year.
Fusion Fuel Green Receives Funding for HEVO-Portugal Project
The shares of Fusion Fuel Green experienced a significant boost, nearly doubling in value. The European Commission has selected Fusion Fuel Green’s HEVO-Portugal project to be a part of a special funding program.
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